Advances in Social Science, Education and Humanities Research (ASSEHR), volume 181 4th International Conference on Social Science and Higher Education (ICSSHE 2018) ''Socialism of the 21st Century'' in Latin American Countries:Major Challenges and Prospects Rong Shu * Dong Xiaofan School of Marxism School of Marxism Zhongnan University of Economics and Law Zhongnan University of Economics and Law Wuhan, P.R.China, 430073 Wuhan, P.R.China, 430073 E-mail:
[email protected] Abstract—The Socialism of the 21st century in Latin 1996 and later by Latin American leaders like Hugo Chávez of American countries, a res ult of long-standing political, economic Venezuela, Rafael Correa of Ecuador, Evo Morales of Bolivia and social contradictions, was put forward by President Hugo and Luiz Inácio Lula da Silva of Brazil."[1] Former Chave z to re form the country. As an overall development Venezuelan President Hugo Chávez has called the process of strategy, ''Socialism of the 21st century'' is a breakthrough for socialist reforms in Venezuela the "Bolivarian process". It is developing countries to get rid of the "Washington Consensus" more heavily influenced by the theories of Mészáros, Lebowitz and Western model, its exploration and practice has epoch- and Harnecker (who was Chávez's adviser between 2004 and making significance. However, there are no established 2011) than by those of Dieterich. Socialism of the 21st century procedures to fulfill the construction of the “Socialism of the 21st argues that both free market industrial capitalism and ce ntury” in Venezuela and other Latin American countries twentieth-century socialism have failed to solve urgent within a certain period of time.